The country’s competition and consumer protection policy and law, in line with the East African Community (EAC) Competition Act, will soon be tabled in the Chamber of Deputies.
The Act, which establishes a regional competition authority, was assented to by the EAC Heads of State in 2006.
It lays down rules for fair competition where small and big firms co-exist in a market controlled by market forces.
Speaking to The New Times yesterday, Francois Kanimba, Minister of Trade and Industry, said that the draft legislation would be tabled before parliament, next week.
“We have already finalised the draft law. We designed it in harmony with other EAC partner states; what remains is Parliament’s approval,” he noted.
Kanimba stated that the Act, once enforced, would protect small firms from business giants within the EAC region.
Although the EAC Competition Act was enacted in 2006, it has been redundant because it requires EAC Partner States to put in place national competition laws.
Only three partner states; Burundi, Kenya and Tanzania, have adopted the Act, with Rwanda and Uganda at various stages of enacting their own competition laws.
The Act contains several provisions to deal with competition issues such as mergers and acquisitions, counterfeits and other violations of Intellectual Property Rights, and abuse of market dominance.
The law also prohibits collusion to fix prices, bidding, market allocation and all factors that would hurt free movement of goods and services and free trade in the region.